Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a series of construction-to-permanent loans totaling $412 million for three new Veterans Affairs (VA) Community-Based Outpatient Clinic (CBOC) properties. The modern, state-of-the-art medical office facilities will serve the healthcare needs of U.S. veterans with construction underway, and completion expected between 2027 - 2029.

The three loans for new facilities include the following locations:

• Texas: 4425 University Blvd., Round Rock / 63,007 Square Feet

• Utah: 3711 State Street, South Salt Lake / 108,070 Square Feet

• Virginia: Northampton Blvd at Premium Outlets Blvd, Virginia Beach / 234,000 Square Feet

The projects mark the 38th, 39th, and 40th state-of-the-art, purpose-built government facilities financed by Gantry. This track record spans properties serving the VA, FBI and other agencies, reflecting the firm’s ability to navigate complex transactions and craft financing solutions tailored to each sponsor’s objectives through its insurance company correspondent relationships.

Notably, Gantry has arranged more than $2 billion in financing for government facilities since 2020, including these latest transactions.

Gantry’s George Mitsanas, Principal, Peter Hillakas, Senior Director, and Keegan Bridges, Associate, with the firm’s Los Angeles office represented the borrower. All three fixed rate, 22-23-year loans were secured from one of Gantry’s insurance company correspondent lenders. Gantry will service the loans for the lender.

According to Gantry’s George Mitsanas, “Gantry has financed billions of purpose-driven VA, FBI, and other government facilities working with our correspondent insurance company lenders. The construction-to-permanent loan in a credit tenant lease structure is an excellent and time-tested approach to the delivery of these large-scale commercial real estate projects. In addition to assisting our veterans with these projects, these projects are creating significant construction-oriented employment. We are honored to work alongside our best-in-class client to support the development of these modern facilities serving the healthcare needs of our nation’s veterans in their local communities.”

About Community-Based Outpatient Clinics

A community-based outpatient clinic (CBOC) is a VA-operated, VA-funded, or VA-reimbursed site of care, which is located separate from a VA medical facility. A CBOC can provide primary, specialty, subspecialty, mental health, or any combination of health care delivery services that can be appropriately provided in an outpatient setting. For more information, please visit: https://www.va.gov/resources/where-youll-go-for-care/